Payments confronts fundraising slowdown

Rob Anderson, a partner with FTV Capital in San Francisco, said it’s becoming tougher for companies “to piggyback off of the premium valuations that really great businesses were getting.”

There’s still healthy valuations out there, stressed Anderson, who helps lead FTV’s investments in fintech; the firm has raised nearly $4 billion and its portfolio includes payments players Plate IQ and Tango Card. But the sector is “seeing a real flight to quality,” and investors may be less willing to take risks on certain startups.

“Great companies will continue to command premium valuations,” Anderson said, adding FTV remains “disciplined through this.” FTV is mindful of what’s occurring in public markets, but “our strategy doesn’t change.”